As reinsurance rates continued to soften at the mid-year renewals, the return on equity (ROE) for full year 2025 is expected to decline from 2024, although remain above the cost of equity and at a higher level than during the most recent soft market years, suggesting continued profitability and strong returns for reinsurers, according to […]
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Athora to acquire Pension Insurance Corporation for £5.7bn
Pan-European savings and retirement services group, Athora, has reached an agreement to acquire Pension Insurance Corporation Group Limited, the parent of Pension Insurance Corporation plc, a specialist insurer of UK defined benefit pension schemes, for approximately £5.7 billion. Athora has €76 billion of assets under management and administration, on behalf of 2.8 million policyholders, and […]
Mid-year renewals shows reinsurers now eager to expand in Florida: Gallagher Re
According to reinsurance broker Gallagher Re’s 1st View mid-year renewal report, recent legislative reforms in the State of Florida encouraged reinsurers to write across the board at the mid-year renewals, in hopes of maintaining their market share on programmes. The reforms, signed into law in late December 2022, have successfully reduced property litigated claims by […]
Rates trending downward but soft market still 2-3 years away: Peel Hunt
Specialty re/insurance rates remain adequate on average and are trending downward, though a soft market is likely still 2–3 years away, according to a recent report by Peel Hunt. Following their participation in the recent Lloyd’s Tour, Peel Hunt analysts met with management teams from Beazley, Conduit Re, Hiscox, and Lancashire. All teams agreed that […]
UNDP, TNFD, KPMG launch ‘NATURE-INSURE’ to tackle biodiversity risk
UNDP’s Sustainable Insurance Forum (SIF), the Taskforce on Nature-related Financial Disclosures (TNFD), and KPMG have partnered to launch a new global programme, ‘NATURE-INSURE’, to strengthen supervisory responses to biodiversity risk. Biodiversity loss and ecosystem degradation are quickly becoming significant issues for financial systems. NATURE-INSURE seeks to enhance supervisory abilities, encourage nature-aware oversight, and raise awareness […]
M&A insurance payouts hit record highs in 2024, driven by R&W claims: Aon
Mergers & Acquisitions (M&A) insurance claims payouts have surged in recent years, with 2024 marking the highest year on record for M&A insurance payouts, according to a recent Aon study. The research highlights a significant increase in claims activity related to Representations and Warranties (R&W) insurance, also known as Warranty and Indemnity (W&I) insurance. Aon’s […]
LexisNexis Risk Solutions introduces new commercial property risk assessment tool
LexisNexis Risk Solutions, a provider of data and analytics for the insurance industry, has released LexisNexis Location Intelligence for Commercial, a tool aimed at improving the assessment of commercial property risks during underwriting and policy renewal. As severe weather events continue to cause over 65% of property losses in the US, commercial insurers face ongoing […]
Hurricane Erick insured losses expected to be contained: AM Best
Insured losses from Mexico’s Hurricane Erick, which made landfall last week, are expected to be contained, with parametric insurance contracts unlikely to be triggered, according to a recent report by AM Best. Hurricane Erick made landfall last Thursday morning as a dangerous Category 3 storm, striking Mexico’s southern Pacific coast. It had reached Category 4 […]
S&P upgrades Convex Group entities credit ratings, assigns stable outlook
S&P Global Ratings has raised the financial strength ratings on re/insurer Convex group’s operating companies to ‘A’ from ‘A-‘, and assigned a stable outlook. The companies include: Convex Re Ltd., Convex Insurance UK Ltd., Convex Guernsey Ltd., and Convex Europe S.A. Convex has shown significant growth since launching in late 2019, achieving its underwriting profitability […]
Canada Life Re to cease new business for US traditional life mortality risk reinsurance
Canada Life Reinsurance, part of financial services holding company Great-West Lifeco, has decided to stop new business for its US traditional life mortality risk reinsurance line, known as U.S. Trad Life, as the firm looks to focus on its core markets. The reinsurer explains that a key driver of its decision to cease new US […]